After CEL-Short-Squeeze, this time it is VGX holders standing up to #PumpVGXJuly18 to try to #SaveVoyager. PumpVGXJuly18 is the event that the VGX holders try to pump VGX to $5 on July 18 to stop the domino effect – LUNA, 3AC, Celsius, Blockfi, and Voyager.
Is it going to succeed? Data tells.
Turnover rate & Trading Volume
After the #PUMPVGXJuly18 was initiated, the VGX Turnover Rate reaches 3-month ATH at 278.22% on Jul 12.
As we share on the Turnover Rate trader tips – to validate an uptrend, we need to check the Turnover Rate and Trading Volume metrics, combining these 2 data to validate an uptrend.
👉 How to use Turnover Rate to validate an uptrend?
The Trading Volume Surge did not surge as high as the Turnover Rate. The Trading Volume on Jul 12 was less than that on Jun 1, when the Turnover Rate was just 133.14%. (compared to the Jul 12 Turnover Rate of 278.22%).
This indicates that buy orders are being propped up by retail traders.
Traders are selling during the pump or buying to support? Data tells
In the last 24h, the Net Buy Vol is $6.42K (buy vol $49.7k – sell vol $43.28k). And 51 buyers vs. 38 sellers. The largest transaction value is $5061, a sell order.
The #PumpVGXJuly18 situation is not very positive, we will say. Given that the buy vol vs. the sell vol is 23:20.
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